Debt financing
Biofuel marketplace Buyofuel attracts $550-K from Recur Club
Coimbatore-headquartered biofuel marketplace Buyofuel has raised USD 550,000 non-dilutive capital via Recur Club. In November last year, Buyofuel had raised INR 11.5 crore in its pre-Series A round. The funds will be allocated for working capital needs, to optimise cash flows and to manage liquidity on the platform. The firm also plans to double down on its international expansion, and technological advancements. Founded in 2020, Buyofuel is an online marketplace that makes it simple to buy and sell green fuel. The company intends to improve the accessibility of the green fuel network in order to ensure an emission-free, clean environment.
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